MIRVAC GROUP — Capital/Financing Update 2008

Jan 31, 2008

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1 February 2008

$300MILLION PRIVATE PLACEMENT

Further to Mirvac Group’s announcement on 24 January 2008 that it confirmed a strategic partnership with Nakheel via a $300m private placement (of 57,692,307 new stapled securities at $5.20 per stapled security) we confirm that the new stapled securities issued will rank equally in all respects with existing Mirvac Group stapled securities.

Mirvac Group comprises Mirvac Limited (ABN 92 003 280 699) (“Company”) and Mirvac Property Trust (ARSN 086 780 645) (“Trust”). The responsible entity of the Trust is Mirvac Funds Limited (ABN 70 002 561 640) (“Responsible Entity”). Mirvac Group's stapled securities consist of 1 ordinary share in the Company and 1 ordinary unit in the Trust. References to sections, Chapters and Parts in this document are references to sections, Chapters and Parts of the Corporations Act 2001 (Cth).

This document is a notice by the Company given under section 708A(5)(e) for the purposes of section 708A(5) and by the Responsible Entity (in its capacity as responsible entity of the Trust) given under section 1012DA(5)(e) for the purposes of section 1012DA(5).

The Company and the Responsible Entity (in its capacity as responsible entity of the Trust) state:

• a) the securities were issued without a Product Disclosure Statement being prepared or without disclosure to investors under Part 6D.2;

• b) as it is a disclosing entity it is subject to regular reporting and disclosure obligations;

• c) as at the date of this notice, it has complied with:

  • i) the provisions of Chapter 2M as they apply to the Mirvac Group; and ii) Section 674; and

• d) there is no excluded information (as that term is defined in section 708A(7) or 1012DA(7), as applicable) as at the date of this notice.

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Michael Smith

Group Company Secretary

Mirvac is a leading ASX-listed, integrated real estate group with more than $26.3 billion of activities under control across the real estate funds management and development spectrum.

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